Westcore Colorado Correlations

WICOX Fund

USD 10.56 0.01 0.09%

The current 90-days correlation between Westcore Orado Tax and Gmo Resources is -0.12 (i.e., Good diversification). The correlation of Westcore Colorado is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Westcore Colorado Correlation With Market

Very good diversification

The correlation between Westcore Orado Tax Exempt and DJI is -0.3 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Westcore Orado Tax Exempt and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Westcore Orado Tax Exempt. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with Westcore Mutual Fund

0.89	WTCOX	Westcore Orado Tax	Pair Corr
0.72	WTIBX	Westcore Plus Bond	Pair Corr
0.88	WTTAX	Westcore Municipal	Pair Corr
0.71	WIIBX	Westcore Plus Bond	Pair Corr
0.88	WITAX	Westcore Municipal	Pair Corr
0.89	KYTFX	Kentucky Tax Free	Pair Corr
0.93	UVABX	Virginia Bond	Pair Corr
0.95	HULYX	Hawaiian Tax Free	Pair Corr
0.88	HULFX	Hawaiian Tax Free	Pair Corr
0.88	ORTYX	Aquila Tax Free	Pair Corr
0.93	UVAIX	Usaa Virginia Bond	Pair Corr
0.92	USVAX	Virginia Bond	Pair Corr
0.95	HULAX	Hawaiian Tax Free	Pair Corr
0.61	GABFX	Gmo Asset Allocation	Pair Corr

Moving against Westcore Mutual Fund

0.32

FCNTX

Fidelity Contrafund

Pair Corr

Related Correlations Analysis

	GMOWX	FRNRX	ICBAX	RYVIX	APWEX	XNDPX	DLDCX
GMOWX		0.51	0.0	0.44	-0.05	-0.08	0.42	GMOWX
FRNRX	0.51		0.73	0.67	0.79	0.78	0.9	FRNRX
ICBAX	0.0	0.73		0.66	0.89	0.86	0.82	ICBAX
RYVIX	0.44	0.67	0.66		0.52	0.57	0.73	RYVIX
APWEX	-0.05	0.79	0.89	0.52		0.94	0.83	APWEX
XNDPX	-0.08	0.78	0.86	0.57	0.94		0.75	XNDPX
DLDCX	0.42	0.9	0.82	0.73	0.83	0.75		DLDCX
	GMOWX	FRNRX	ICBAX	RYVIX	APWEX	XNDPX	DLDCX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

XNDPX	+ 0.94	APWEX
DLDCX	+ 0.9	FRNRX
APWEX	+ 0.89	ICBAX
XNDPX	+ 0.86	ICBAX
DLDCX	+ 0.83	APWEX
DLDCX	+ 0.82	ICBAX

High negative correlations

XNDPX	- 0.08	GMOWX
APWEX	- 0.05	GMOWX
ICBAX	- 0.0	GMOWX

Risk-Adjusted Indicators

There is a big difference between Westcore Mutual Fund performing well and Westcore Colorado Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Westcore Colorado's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
GMOWX	1.05	(0.06)	0.00	2.77	0.00	0.00	1.80	(2.79)	5.49
FRNRX	0.77	0.03	(0.07)	2.44	1.08	(0.77)	1.58	(1.79)	4.33
ICBAX	0.80	(0.01)	0.01	0.11	0.76	(0.92)	1.49	(1.24)	6.37
RYVIX	1.42	(0.20)	0.00	(0.01)	0.00	0.00	2.63	(3.08)	10.74
APWEX	0.89	0.05	0.04	0.17	1.01	(0.96)	1.83	(1.79)	5.85
XNDPX	0.94	0.18	0.04	(8.57)	1.14	(0.96)	1.83	(2.38)	5.45
DLDCX	0.91	(0.07)	(0.07)	0.04	1.30	(0.90)	1.58	(2.05)	4.99

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